5.23 Evening Bitcoin and Ethereum Market Analysis

Just now, the cryptocurrency market experienced severe fluctuations, with Bitcoin's price sharply dropping and strongly breaking through the 109,000 level, shattering a two-day wide-range consolidation pattern. This bearish momentum has forcefully broken the support level, with movements completely exceeding conventional technical expectations. Such intense volatility is likely due to institutional funds entering the market. With this round of decline, the bearish trend of Bitcoin has been established, and the operational strategy needs to closely follow the market and adjust in a timely manner.

This break shows distinct characteristics of institutional manipulation: Bitcoin's price fell nearly 3,000 points vertically; the market witnessed a single market sell order of over 5,000 BTC; prices accurately filled the CME futures gap of 107,800 - 108,200. As a result, Ethereum's price also fell in tandem, breaking through the key support level to around 2,520, marking a new low for the month.

From a technical perspective, bears currently completely dominate the market. The 105,800 - 107,800 area has become a key observation range. If Bitcoin’s price rebounds but fails to break through 108,500, a secondary shorting opportunity will form. Given that the market has entered an extreme phase, the following operational advice is provided: immediately suspend all bottom-fishing activities; current price levels are not suitable for shorting; wait for a price rebound to the 108,200 - 108,500 range before positioning for shorts; strictly control positions and ensure risk management. Additionally, it is crucial to pay attention to the speeches of Federal Reserve officials in the early morning, as this event may trigger a second wave of market fluctuations. Overall, evening trading should focus on a bearish outlook.

Bitcoin Operational Advice: When the price rebounds to around 108,500, you may attempt to position for shorts, targeting a price level of 106,000.

Ethereum Operational Advice: When the price reaches around 2,535, you may enter for shorts, targeting a price level of 2,450. #加密市场回调 #币安Alpha上新 #以太坊走势 #比特币突破11万美元 #BTC再创新高